Level Global to close: Full Letter

The latest casualty of the government’s investigation into insider trading, Level Global Investors, which had not been charged with any wrongdoing, informed clients this morning that the firm would be closing.

It’s unclear how much money the firm expected to flow out in the next redemption period, but the letter (signed by founder David Ganek) implies that it would have injured the firm’s ability to operate at a high standard or continue to invest with conviction.

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